NEW DELHI: In a bid to ensure airfares don’t get completely out of reach for the common citizen and airlines don’t collapse, govt on Wednesday decided to set aside Rs 10,000 crore to cap aviation turbine fuel (ATF) or jet fuel prices and prevent them from sharp surges. This one-time budgetary support will be given…
NEW DELHI: The Union Cabinet on Wednesday recommended an ordinance to ease tax rules for foreign investors in some categories of securities.The details of the proposal moved by the finance ministry were not immediately available. However, it is being seen as an effort to help strengthen the rupee, which has weakened 6% against the US…
MUMBAI: Interest in India remains undiminished despite near-term volatility, according to Vikram Sahu, India CEO and country executive at Bank of America.“Corporate interest remains strong and unchanged in its conviction,” Sahu said, adding that strategic investors continue to take a long-term view of India, drawn by its scale, growth prospects and governance framework.Investor sentiment is…
SpaceX is planning to set the price of its initial public offering at $135 per share in a deal that would raise a record $75 billion and value the company at $1.75 trillion, the company said in a filing with the U.S. Securities and Exchange Commission. The aerospace company plans to sell 555.6 million shares…
NEW DELHI: Petroleum minister Hardeep Singh Puri on Wednesday said flex-fuel vehicles offer India a practical way to reduce crude oil imports. He said if even 1% of annual petrol vehicle sales shift to the technology, it would generate demand for four crore litres of ethanol and save Rs 195 crore in foreign exchange each…
MUMBAI: The RBI rejected all bids for 182-day and 364-day treasury bills while accepting only 91-day bills at auction on Wednesday, signalling its discomfort with rising short-term yields ahead of the monetary policy decision due Friday.The RBI sold 91-day treasury bills at a yield of 5.56%. The central bank typically rejects bids when it finds…
Bitcoin’s BTC$65,482.08 recent struggles to rise in tandem with U.S. stocks has sparked a wave of explanations, from concerns about Michael Saylor’s Strategy (MSTR) selling bitcoin to questions about whether institutional demand is beginning to fade. Charles Schwab director of digital currencies research and strategy Jim Ferraioli sees a simpler explanation: Bitcoin is losing the…
SRINAGAR: Ladakh Lt Governor Vinai Kumar Saxena Wednesday laid the foundation stone for the first model border village at Chumur, located at an altitude of 16,700 feet along the India-China border.Officials said the first-of-its-kind project in the region will focus on infrastructure development, employment and livelihood generation, all-weather connectivity and greater civilian-defence integration. The initiative…
Check out the companies making headlines after the bell : Broadcom — Shares fell 5% after the chipmaker reported fiscal second-quarter revenue of $22.19 billion, coming in below the $22.27 billion analysts polled by LSEG had expected. This marked Broadcom’s first revenue miss since December 2024. The company’s $7.18 billion infrastructure revenue also missed the…
MUMBAI: Markets regulator Sebi on Wednesday banned Rajesh Mehta, CMD of Rajesh Exports from dealing in the shares of the company till further orders. In its interim order, Sebi also directed Rajesh Exports to cooperate with the regulator’s investigating officer and forensic auditors to look into the books of the company.Sebi’s initial investigations showed that…
